On Wednesday, Pakistan announced that it had entered into an agreement with a company affiliated with World Liberty Financial, the primary cryptocurrency enterprise owned by U.S. President Donald Trump’s family, to examine the potential use of World Liberty’s stablecoin for cross-border transactions.
The Pakistan Virtual Asset Regulatory Authority said in a statement that a memorandum of understanding with SC Financial Technologies, a little-known company it described as an “affiliated entity” of World Liberty, would enable “dialogue and technical understanding around emerging digital payment architectures”.
The announcement represents one of the first publicly announced tie-ups between World Liberty, a crypto-based finance platform launched in September 2024, and a sovereign state. It also comes amid a warming of ties between Pakistan and the United States.
Under the agreement, SC Financial Technologies will work with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated digital payments structure, allowing the token to operate alongside Pakistan’s own digital currency infrastructure, a source involved in the deal said.
World Liberty Ceo Visits Pakistan
The announcement of the memorandum came during a visit to Pakistan by Zach Witkoff, son of U.S. special envoy Steve Witkoff and co-founder and chief executive of World Liberty.
Zach Witkoff is also CEO of SC Financial Technologies. The company, registered in Delaware, co-owns with World Liberty the USD1 stablecoin brand, according to documentation on the stablecoin’s reserves from July 2025.
Witkoff met with “senior Pakistani stakeholders” to discuss digital payment infrastructure, cross-border settlement and foreign exchange processes, the statement said.
Pakistan has been exploring digital currency projects as it seeks to reduce cash usage and improve cross-border payments such as remittances, a key source of foreign exchange. Its central bank governor said in July it was preparing to launch a pilot for a digital currency and is finalising legislation to regulate virtual assets.
(With inputs from Reuters)
